Untold story of Binance executive’s descent into Nigerian prison (Part III)

Binance Executive Detained in Nigeria After Bribery Demand

[dropcap]B[/dropcap]efore his detention, Binance executive Tigran Gambaryan had been in Nigeria on what seemed like a diplomatic visit.

Also read: Untold story of Binance executive’s descent into Nigerian prison (Part II)

He had met with officials from the Economic and Financial Crimes Commission (EFCC) and Nigerian lawmakers, discussing cryptocurrency regulations and potential training collaborations.

However, beneath the surface of these seemingly cordial meetings, government officials were demanding a $150 million bribe in cryptocurrency to resolve Binance’s issues in Nigeria.

The demand was allegedly made discreetly, with Nigerian officials making it clear that without payment, Binance executives might not be allowed to leave the country.

Alarmed, Gambaryan and his colleagues rushed to escape, changing their flights overnight and avoiding the hotel lobby to prevent any obstruction. They successfully departed Nigeria, believing they had dodged a significant threat.

However, the matter did not end there. Upon returning to the US, Gambaryan received a call from EFCC detective Olalekan Ogunjobi, who encouraged him to report the bribery attempt.

This led to further discussions with Nigerian officials, including Ahmad Sa’ad Abubakar, a close aide to Nigeria’s national security adviser, Nuhu Ribadu.

Despite his wife’s warnings, Gambaryan decided to return to Nigeria to address the issue and mend Binance’s strained relations with the government.

Accompanied by Binance’s regional manager for East Africa, Nadeem Anjarwalla, Gambaryan arrived in Abuja for what he believed would be a resolution meeting.

Instead, the meeting quickly turned hostile.

Nigerian officials, led by EFCC officer Hamma Adama Bello, accused Binance of harming Nigeria’s economy and financing terrorism.

Shortly after, they detained Gambaryan and Anjarwalla, seizing their phones and transferring them to a government-owned residence.

Stripped of communication and held in an undisclosed location, Gambaryan realised he was being used as leverage.

As he chain-smoked in the courtyard, he faced the grim reality of being caught in a diplomatic and financial battle that left his fate uncertain.

Also read: Untold story of Binance executive’s descent into Nigerian prison (Part IV)